https://www.taxtmi.com/caselaws?id=177635 The Revenue's appeal against the deletion of disallowance of Rs. 33,35,500/- out of interest paid to The Sandesh Ltd. was dismissed. The Tribunal upheld the decision of the Learned Commissioner of Income Tax (Appeals), ruling that the interest payment was genuine, used for business purposes, and not subject to disallowance under section 40A(2)(b) as there was no relation between the parties. The Tribunal emphasized that legitimate business expenses should not be disallowed solely based on the assessing officer's view of excessiveness. en-us Fri, 13 Aug 2010 00:00:00 +0530 Thu, 14 Jan 2016 11:20:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177635 The Revenue's appeal against the deletion of disallowance of Rs. 33,35,500/- out of interest paid to The Sandesh Ltd. was dismissed. The Tribunal upheld the decision of the Learned Commissioner of Income Tax (Appeals), ruling that the interest payment was genuine, used for business purposes, and not subject to disallowance under section 40A(2)(b) as there was no relation between the parties. The Tribunal emphasized that legitimate business expenses should not be disallowed solely based on the assessing officer's view of excessiveness. Case-Laws Income Tax Fri, 13 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177635